Speaking at the launching ceremony, So Khun, Minister of Posts and Telecoms, said the TRC will govern rules and regulations in the sector with authority over spectrum and fair price setting for telecoms operators.

"This is a new achievement for the country in reforming telecoms sector," he said. "The regulatory body will help to build more confidence among investors."

The TRC is authorized to inspect and supervise on techniques and administration on the construction, operation, distribution and use of networks and telecommunications as well as information technologies.

At the event, Mao Chakrya, TRC's newly-appointed director general, vowed to strengthen existing laws and regulations, to formulate new rules and regulations to keep up with the development of sophisticated technologies and to ensure a fair and transparent atmosphere for telecommunications operators.

Telecommunications witness a significant progress in recent years.

According to the ministry's report, by June this year, the country's eight mobile phone operators have sold out 19.64 million SIM cards, exceeding the country's population of about 14.5 million.

In terms of internet use, the kingdom has about 30 internet service providers serving 1.86 million customers.